HomeMy WebLinkAbout09/02/1975
. ,-' .
.
MINUTES
HOUSING AUTHORITY OF THE CITY
OF SANTA ANA, CALIFORNIA
September 2, 1975
The Special Meeting of the Housing Authority of the City of
Santa Ana was called to order at 2:05 P.M., by Chairman Harry
K. Yamamoto, in the Council Chambers, 22 Civic Center Plaza,
Santa Ana. The following members of the Authori ty responded
to the roll call:
-
Present
Absent
Gordon Bricken
David F. Orti z
John Ga rthe
Vernon S. Evans
David L. Brandt
James E. Ward
Harry K. Yamamoto,
None
Chairman
.
The following persons were also present:
Manuel Rede, Executive Director-Secretary
Keith L. Gow, City Attorney
Bruce C. Spragg, City Manager
Florence I. Malone, Recording Secretary
Representatives of the Press
REPORT OF DIRECTOR
SENIOR CITIZENS HOUSING
Mr. Rede stated that
although the developer,
National Housing
Consultants, Inc., is
willing and able to finance the project as a Revised Section 23
FHA insured 221 (d) 4 project, he has requested the opportunity
to explore the possibility of bond financing under Section 8
of the 1974 Housing and Community Development Act which permits
higher "fair-market" rents (to be paid by HUD), reduced interest
rates by 1 or 1 1/2 percentage points, and reduced processing
time.
.
He stated further that staff concurred in the developer's request
with the proviso that an outside financial consultant analyze the
opportunities that might be available under Section 8 as opposed
to proceeding under FHA insured.
Mr. Charles Peters, of National Housing Consultants, Inc., spoke
in favor of exploring the Section 8 financing and stated that
ultimately it would result in tenant rent reduction.
On motion of Commissioner Ward, seconded by Commissioner Bricken
and carried unanimously (7-0) the Authority:
-
1.
.
2.
Authorized Housing staff to hire a financial consultant
at a cost not to exceed $2,000 to conduct a feasibility
study for the Santa Ana Senior Housing Project to include
the following: (a) HUD Section 8 and Section 23 housing
programs, as applicable to the Senior Housing Project,
(b) bond financing, FHA insured financing, or other
alternative methods, (c) a proposed implementation plan
for expeditious development of the Senior Housing Project.
Directed Housing Authori ty staff to prepare a report for
the Housing Commission which will:
.
-
.
.
,
.
MINUTES
HOUSING AUTHORITY
3.
- 2-
September 2, 1975
a)
Outline the findings of the feasibility study
conducted by the independent consul tant, and
Recommend a proposed financial plan and project
implementation plan for consideration by the
Housing Commission.
b)
Authorized Housing Authority staff to continue discussions
with National Housing Consultants regarding possible
bond financing under Section 8 program.
No thing to report.
REPORTS OF COMMITTEES
UNFINISHED BUSINESS
No thing to repo rt .
NEW BUSINESS
Nothing to report.
ADJOURNMENT The meeting was ad-
journed at 2:48 P.M.,
on the unanimously
approved motion of Commissioner Evans, seconded by Commissioner
Garthe.
~~,lli~
FLORENCE I. MALONE
Recording Secretary